Tag Archives: Federal Reserve

The Federal Reserve delivered its first interest rate cut of the year on Wednesday, signaling that mounting concerns about a slowing labor market now outweigh the risks of rising inflation. Policymakers reduced the central bank’s benchmark rate by a quarter percentage point, setting it at 4% to 4.25%. The move …

The Senate on Monday narrowly confirmed economist Stephen Miran, a top adviser to President Donald Trump, to the Federal Reserve’s Board of Governors, handing the president fresh influence over the central bank just as it prepares for a pivotal decision on interest rates. The 48-47 vote filled the vacancy left …

A panel of federal appeals court judges on Monday blocked President Donald Trump from removing Federal Reserve Governor Lisa Cook, hours before she and other top central bank officials were set to begin a closely watched meeting on interest rates. The ruling, issued by two of the three judges on …

Federal Reserve Governor Lisa Cook will challenge her removal, her attorney said Tuesday, arguing President Donald Trump “has no authority” to fire her. Trump announced late Monday that he would fire Cook, the first Black woman to serve on the Federal Reserve Board, over allegations that she falsified documents to …

President Donald Trump said late Monday he has removed Federal Reserve Governor Lisa Cook from her position, a move that immediately triggered questions about the independence of the nation’s central bank and is expected to spark a court fight. In a letter posted to Truth Social, Trump wrote: “Pursuant to …

The Federal Reserve on Wednesday opted to leave its benchmark interest rate unchanged, defying persistent pressure from President Donald Trump and signaling renewed concern about inflation and economic uncertainty driven by tariffs. In a statement following its July policy meeting, the Fed said that while economic growth had moderated, inflation …

In a rare presidential visit to the Federal Reserve on Thursday, President Donald Trump publicly criticized the cost of the central bank’s ongoing renovations, calling the estimated $3.1 billion price tag “exorbitant” while donning a hard hat amid ongoing construction. The event highlighted Trump’s continued pressure on Fed Chair Jerome …

President Donald Trump said Wednesday it was “highly unlikely” he would fire Federal Reserve Chair Jerome Powell, appearing to reverse course less than a day after floating the idea with Republican lawmakers and sparking a temporary dip in the stock market. Speaking to reporters in the Oval Office, Trump said, …

The Federal Reserve on Wednesday left its benchmark interest rate unchanged at 4.25% to 4.5%, signaling deepening concern over a stagflationary environment—a troubling mix of slowing growth and rising prices—exacerbated by tariffs imposed during the Trump administration. The Fed’s latest projections paint a pessimistic picture of the months ahead. Policymakers …

Jimmy Williams The Federal Reserve reduced its benchmark interest rate on Wednesday, marking the first rate cut in over four years and lowering the key rate by 0.5%, to a range of 4.75% to 5%. This move follows a series of 11 rate hikes since March 2022 aimed at curbing …

Jake Johnson, Common Dreams Right-wing allies of former U.S. President Donald Trump are reportedly crafting a plan to give the executive branch control over Federal Reserve policy decisions, an effort that comes as the presumptive GOP nominee continues to signal his authoritarian intentions for a potential second term. The Wall …

Ashley Murray, New Hampshire Bulletin Financial regulators promised a full review of Silicon Valley Bank’s massive failure as members of a key U.S. Senate panel on Tuesday interrogated the officials about what led to the second-largest bank collapse in U.S. history. Members of the Senate Committee on Banking, Housing, and …

Kenny Stancil Sen. Elizabeth Warren this weekend called on federal officials to investigate the causes of recent bank failures and urged President Joe Biden to fire Federal Reserve Chair Jerome Powell, whom she has criticized for intensifying financial deregulation and imposing job- and wage-destroying interest rate hikes. Asked on Sunday …

Casey Quinlan, Florida Phoenix The Federal Reserve has announced that in its continuing efforts to tamp down inflation, it would raise interest rates yet again by another three-quarters of a point to a target range of 3.75 to 4%. Federal Reserve Chair Jerome Powell said during a press conference following …

Christopher Decker, University of Nebraska Omaha The U.S. economy added more jobs than expected in June, signaling the labor market remains strong even as the Federal Reserve tries to weaken it to tame inflation. The July 8, 2022, jobs report also showed the unemployment rate remained at a 70-year low …